What are the best examples of digital transformation? And how their tops help other businesses in their digital transformation look?
Operating in digital transformation can make or destroy a firm. In this very digital life, making this development has become essential.
Companies need to crack the shell and be innovative in their businesses. But, it is not only restricted to changing their technology and plans.
Successful companies have already experienced this. So, they make for the best examples of digital transformation.
Do you want to identify who are they? Read on to know more.
Nike is one of the world’s leading shoe and clothing tags. But before, they began to seem old.
Good thing they chose to look back on their place. Also, they started doing digital transformation efforts.
The company focused on reinventing its name and supply list. So, how did they do that?
Nike centered on its connection with its customers. They created works such as company chances and stronger digital business. Then, they made efforts for powerful data analytics.
We can see that Nike company did not center on middlemen and other retailers. Instead, they focused more on marketing directly to buyers.
The business did this by creating a stronger presence on sites like Amazon. Also, they started the customer online activity through apps and social media.
They have seen an improvement in stock price from $52 million to almost $88 million. So, all of these for a difference in only two years.
Target, a retail firm, has had an 8-year digital transformation aspect. They did work to direct their digital form and make it part of their main business.
They have already developed 400 shops and projects to improve a new 600 by this year. Also, they gave these shops with new technologies and sets such as:
- online system
- in-store pickup
- curbside grocery pickup
The firm made goes to develop their social media habits. Why? To let customers find new goods and even get them from their social media records.
Target company saw an increase in its store share. From $73 per share in 2017, it is now at $88 per piece. As a result, their revenue grew from $70 billion to $76 billion this 2020.
Hasbro is a toy and game business. In 2012, they saw a decrease in their store part. So, they made different digital and data systems to change the company’s growth.
They began by making targeted selling works for their company. As a result, they made it successful by getting and using consumer data.
The business made efforts to create omnichannel marketing and these shopping links:
- digital storytelling
- video content
- social media marketing
- its nostalgic brand
Their 7-year digital transformation is a bonus. So now, Hasbro’s stock increased from $36 per sale share in 2013 to $109 now.
These firms made are the best examples of digital transformation. Also, they looked at what they need and made efforts to fulfill those gaps.
Making efforts to be innovative is essential. So, companies can then learn from them by making those efforts.